Proceeds PurposesVirdante also announced today that the Company plans to use the proceeds from the new financing to pursue development of a second drug, a sialylated recombinant IgG Fc fragment (“sFc”), the segment of IgG responsible for the anti-inflammatory activity of IVIG. In addition, Virdante plans to expand the application of its Sialic Switch technology to improve the potency of important anti-inflammatory antibodies such as anti-TNF drugs.